Commerce Street Renews, Restructures Fountain Place Lease

Commerce Street Holdings LLC re-signed and restructured a long-term lease for its 23,000-square-foot office at Fountain Place building in downtown Dallas. The holding company for Commerce Street Capital opted for an early renewal, due to new interest in the 60-story, 1.2-million-square-foot at 1445 Ross Ave. NKF’s Jim Cooksey, Paxton Cooksey, Garrison Efird and Louis Pascuzzi represented the tenant in negotiating the deal with landlord Goddard Investment Group.

Fountain Place, which opened in the mid-1980s, was designed by I.M. Pei, and recently underwent a $70 million redevelopment. Additions to the property included a 10-story garage, four plaza-level restaurants, tenant lounge and fitness center.

“Leasing activity at Fountain Place reached a feverish pitch as the renovations neared completion,” Jim Cooksey said. “Considering market conditions and the revitalized interest in Fountain Place, it was important to secure Commerce Street’s lease rates going forward.”

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